E.ON Pockets €150M In Sale Of Danish Wind Farm Stake

Law360, New York (November 13, 2013, 1:32 PM EST) -- E.ON SE has agreed to sell 80 percent of a wind farm off the coast of Denmark to SEAS-NVE, a Danish energy company, for €150 million ($201 million), it said Wednesday.

The wind farm's holding subsidiary will take out a €280 million loan on E.ON's behalf just before SEAS-NVE pays €150 million for 80 percent. Together, E.ON will have a cash flow of €430 million, for a company that it values at €470 million.